Yeah. I got rocked reeeeeeal good by one rise and one dip. Up nor down surprise me now. I just subscribe to the thought that historically, the patient Hodler has no regrets.
I am genuinely curious as to how ETN will be valued when its coikens are being circulated within the real world in mass. I have no clue how the entire valuation of a coin can be based alone on exchange action. If more coins are being circulated in real life than traded on exchanges, the voume on exchanges will suffer and the coin value can more easily be manipulated. Am I over thinking this?
honestly…I don’t know bud. This is a whole new playground in the world of finance…so all we can do is wait and see
The only thing I can think right now is the fact Kucoin now has stop losses. Whales could be manipulating the market to do stop loss hunting to see how many more ETN they can get for nothing. It’s the only thing that makes sense to me…other than massive amounts of people simply losing all faith in the project…but I don’t see that being the case on such a large scale.
We are at all time lows on the RSI on Kucoin…it would not surprise me if we saw a massive green candle come up once the whales are done hunting and get all the bots to lower their sell walls to extremely cheap prices…assuming I’m right on the stop loss hunting, of course…
Thats illegal manipulation. No go.
I would police charge if it was team manipulation to give away my money
Crypto is not regulated like traditional markets. they are free to do that all day long. It’s the wild west still.
Not etn the team. Read what i write.
The team can never touch anything with the trading
I’m not sure if there hasn’t been a large sell off from investors. The sentiment towards Electroneum by my subjective viewpoint is lower now than it has been since last summer. (Not for me personally) I think a lot of people were dissatisfied with the MWC announcements and jumped ship. This started a gradual selloff that has led to today’s capitulation.
How mutch cash is really changed hands, in this so called dump manipulation. Its done with pocket money really
I did read what you wrote…I was not referring to the ETN team. I’m referring to whales manipulating the market. They are free to manipulate all they want. No police action can be taken against them.
Its 69btc 24h on kucoin. Thats not really many hands out…
A sellout would be a massive volume.
This stinks fake
I agree…and I think we are seeing the bounce back now
You always have to ask yourself “who’s buying?”
Like cryptoman said on kucoin you now have stoplosses which may be a factor but i doubt many are using that feature just yet on kucoin.
Also the option of hidden orders. Bigger players can make you see what they want you to see now. Large sell walls while hiding their buy orders. Essentially selling back to themselves but collecting more from weak hands.
There is the big green candle I was hinting we would see earlier. This is clear manipulation, like the fisherman tactic we talked about here in the past to weaken overhead sell walls by forcing bots to sell portions of those walls lower. Everyone keep their heads up and refuse to give your coins away to these fishermen.
The only thing though, is that every time they go fishing it seems that overall the sats end up at a lower price than they start with. I would add that the day hasn’t quite finished, so time to pop back up.
Back in September 06, 2018 price dipped to the lowest price of $0.00501 with a volume of $271k. Then with daily volume around $200k each day for the next 2 weeks there was a steady climb to $0.00601 with a volume of $395k. The next day the volume spiked significantly and seemingly out of nowhere to $1.275m. A week later the volume had spiked to a huge, (for etn) $10.896m and the price had climbed to $2.2 cents.
The point being, is that although we very near to our lowest cent price and with over-supply, the situation can turn around in very quick time.
Is this time any different to Sept-18? I know it was shortly after the launch of instant payment but was that any bigger than going live in SA. Or Chris Gorman OBE, joining the GSMA Intelligence Advisory Board? Or the back end remittance systems for the partners?
I guess the obvious answer is that the market has been much more bearish since September, but I am still of the opinion that significant volume can come back and at short notice!
absolutely 100% correct. The changes and the volume we have right now are so minuscule that it is hard to imaging exactly what you mentioned with a sudden explosion. We are so caught up in the hour to hour changes that we can’t fathom the real changes that are to come…and it will come. It’s just a matter of time. We are just getting started.
We got a nice pullback which symbolizes a fakeout. But its not yet the bounce I expect from yesterday.
Where were you expecting a bounce to, Matt?
Towards the upper resistance around 200 sats but since we may have broken market structure on the last runup I’m leaning more towards 180sats and go from there.